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URL :  The Inflation Process
Author : Yavuz Arslan - Martina Jašová - El?d Takáts
Detail : 2016 | PDF | 229 Kb | 18 pages

eBook License: Public Access from https://www.bis.org/

This paper documents three major and favourable inflation dynamics in emerging market economies (EMEs). First, the level of inflation has moderated in EMEs and has been broadly stable since the early 2000s. Second, inflation persistence has declined over the past decade. Third, EME exchange rate pass-through, both short-term and long-term, has also declined after the financial crisis. In addition, the paper shows that the role of global factors on inflation is larger for EMEs that are more open to trade. (From Author)

eBook Contents

Introduction - Potential Inflation Drivers - Phillips Curve Output Gap Responses - Exchange Rate Pass-Through - Age Structure and Inflation - Globalisation and Inflation
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